San Diego Padres sale is nearly final, and it could change all future sales in MLB

A potential landmark deal is taking shape in Major League Baseball, and it could change how franchises are valued for years to come. The San Diego Padres are reportedly nearing a sale that could approach $3.5 billion, a number that would shatter the current MLB record and send shockwaves across the league.

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A Franchise Defined by Turbulence

The Padres path to this point has been anything but smooth. Following the passing of late owner Peter Seidler in November 2023, the organization entered a prolonged period of uncertainty. Seidler had built a reputation for aggressive spending and a willingness to push the franchise into contention. After his death, control of the team became a point of contention within the family.

The situation escalated beyond simple succession. Peter’s widow, Sheel Seidler, filed a lawsuit against his brothers, Matt Seidler and Bob Seidler, alleging breaches of fiduciary duty and fraud tied to the management of the family trust. At the same time, John Seidler was eventually approved by MLB owners as the team’s control person—but only after significant internal conflict. All of it has created a backdrop of instability that likely accelerated the push toward a sale.

A Record-Shattering Price Tag

If the deal reaches anywhere close to $3.5 billion, it would easily surpass the current MLB record. That mark is held by Steve Cohen, who purchased the New York Mets for $2.4 billion in 2020. In fact, any sale north of $2.4 billion would set a new record, making this deal historically significant even before reaching its reported ceiling.

What makes this potential sale even more fascinating is the gap between estimates and reality. Forbes has valued the Padres at around $1.9 billion, while Sportico placed them closer to $2.3 billion. A sale near $3.5 billion would blow past those projections, raising serious questions about how MLB franchises are being valued in today’s market.